MARKETS ON TUESDAY: Nifty ends above 10,600; metal stocks fall; RIL up 4%

Benchmark indices edged up on Tuesday, with financials and pharma stocks boosting sentiment

11:45 AM

Volume Toppers

COMPANY	PRICE()	CHG()	CHG(%)	VOLUME
REL. COMM.	19.80	-0.25	-1.25	1894205
NATL. ALUMINIUM	77.80	-7.10	-8.36	1603767
JP ASSOCIATES	20.45	0.15	0.74	1432196
HINDALCO INDS.	235.00	-20.75	-8.11	1221944
RELIANCE NAV.ENG	25.45	-1.55	-5.74	994276

11:29 AM

Gati to explore inducting new financial,strategic partner; stock surges 16%

 

Gati has moved higher by 16% to Rs 117 on the BSE on back of heavy volumes after the logistics company said it exploring the possibility of inducting a new financial/strategic partner.

 

“The board of directors of the company will meet on Thursday, April 26, 2018 to review, consider and pass the enabling resolution for exploring the possibility of inducting a new financial/strategic partner to augment the future growth of the company,” Gati said in a regulatory filing. READ MORE

11:15 AM

Sebi's circular naming defaulters draws flak; companies approach FinMin

 

Market regulator Securities and Exchange Board of India (Sebi) is once again caught on the wrong foot, and this time for one of its recent circulars that made public names of over 2,000 entities, which have defaulted on its dues.

 

Some of the companies named in the list have raised objections with the finance ministry, stating that the list was erroneous, said sources aware of the development. READ MORE

Sebi. (Photo: Kamlesh Pednekar)

11:00 AM

Interview of the Day We expect high single-digit returns from the market this year: Mihir Vora

The March 2018 quarter (Q4FY18) earnings season has begun well with the information technology (IT) companies delivering healthy numbers. MIHIR VORA, director and chief investment officer, Max Life Insurance tells Puneet Wadhwa that for financial year 2018 – 19 (FY19), he expects an earnings growth of 15 – 18 per cent, predicated on a recovery in earnings for corporate banks and commodity prices remaining strong. READ MORE

Mihir Vora, max life

10:45 AM

NMDC: Steady steel demand, increasing iron ore volumes key growth drivers

 

NMDC, the country’s largest iron ore producer, had to cut the price of its produce by Rs 100 a tonne from April 18, due to decline in international prices. The per tonne iron ore price, excluding China, has corrected from over $75 levels in end-February to sub-$65 by start of April on fears that the global tariff wars would impact steel and iron ore demands.

10:33 AM

Oil on the boil poses risk to Indian equities, says JPMorgan

 

Even as Indian equities have shown resilience to crude oil’s more than 10 per cent rally in the last two weeks, any continuation of the surge poses a greater risk to the stocks compared with other assets, JPMorgan said in a note. READ MORE

10:17 AM

Minda Corp shares extend gains after stake buy by Ashish Kacholia

Shares of Minda Corporation were up by 1.5% at Rs 204 per share on Tuesday, extending its Monday’s 15% rally on the BSE, after investor Ashish Kacholia bought an over one million shares of auto ancillary company through open market. READ MORE

10:00 AM

Market Check

 

S&P BSE Sensex	34,598.81		0.43%
Nifty 50	10,598.20		0.13%
S&P BSE 200	4,668.32		0.29%
Nifty 500	9,394.20		0.22%
S&P BSE Mid-Cap	16,969.33		0.52%
S&P BSE Small-Cap	18,361.29		0.48%

9:48 AM

Alembic Pharma gains 5% on successful USFDA inspection of Panelav facility

Shares of Alembic Pharmaceuticals were up 5% at Rs 527 per share on the BSE in early morning trade after the company informed about the successful United States Food and Drug Administration (US FDA) inspection at its API facility at Panelav with zero 483s. READ MORE

9:35 AM

Stocks at 52-week high

COMPANY	PRICE()	52 WK HIGH	CHG()	CHG(%)
ASHOK LEYLAND	160.65	161.30	1.30	0.82
BAJAJ ELECTRICAL	698.80	706.35	15.20	2.22
BHARAT FINANCIAL	1160.80	1172.00	1.40	0.12
CHOLAMAN.INV.&FN	1700.95	1728.45	37.50	2.25
FIRSTSOUR.SOLU.	61.00	61.35	0.40	0.66

9:26 AM

Nifty Metal index falls over 2% as aluminium prices correct globally; top losers

COMPANY	LATEST	PREV CLOSE	LOSS()	LOSS(%)	VOLUME
NATL. ALUMINIUM	79.00	84.85	-5.85	-6.89	161697
HINDALCO INDS.	239.00	255.60	-16.60	-6.49	175666
VEDANTA	293.00	305.05	-12.05	-3.95	141798
TATA STEEL	594.45	606.60	-12.15	-2.00	12201
S A I L	78.25	79.55	-1.30	-1.63	29753

9:20 AM

Sectoral Trend

9:19 AM

Top Sensex Gainers and Losers

9:18 AM

Markets at open

At 9:18 am, the S&P BSE Sensex was trading at 34,583, up 132 points while the broader Nifty50 index was ruling at 10,604, up 20 points

9:15 AM

Stocks In News

Ujjivan Financial Services said its Managing Director and Chief Executive Officer Sudha Suresh has resigned from the company due to personal reasons. 
 

Bharti Airtel plans network expansion in Gujarat with 6,000 new sites and 2,000 kilometres of optic fiber in FY19 to strengthen mobile broadband footprint

Tech Mahindra has tied up with Andhra Pradesh Govt To Establish Cyber Security Operations Centre In Vijaywada

JSW Steel, Aion found eligible resolution application for Monnet Ispat: Bloomberg

Vedanta Ltd has clocked a record aluminium production of 1.67 million tonnes in FY18, 38% higher year-on-year (y-o-y), helped by a complete ramp-up of its BALCO-II smelter in Chhattisgarh and scaling up of additional pots at its Jharsuguda smelting facility. 

Jet Airways signs codeshare pact with Aeromexico
 

The board of Quess Corp has approved the scheme of arrangement whereby the human resource business of Thomas Cook along with TCIL’s investment in Quess will be demerged to Quess through an NCLT process. This is subject to regulatory approval .

Music Broadcast to acquire radio business of Ananda Offset on slump sale basis

Geojit Financial to set up asset management company

MOIL will procure its entire silica sand requirement from Hindustan Copper’s Madhya Pradesh unit

Astron Paper enters into MoU with Balaram Papers to take over its Gujarat plant

Shilpi Cables gets 90-day extension for corporate insolvency resolution.

(Source: Nirmal Bang report)